• DHFL Pramerica U-Protect Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    DHFL Pramerica U-Protect Plan

    DHFL Pramerica U-Protect is a term insurance plan that is designed to protect the insured person’s family and loved ones in case of any eventuality. We all strive hard and do everything within our ability to protect our loved ones as long as we are alive. Have you thought of what would happen to them in your absence? Apart from the emotional pain they have to endure in your absence, they will be left to face the financial crunch all by themselves. If imagining this bothers you, get a life insurance today. DHFL Pramerica Life Insurance offers a wide range of insurance plans that can be personalised to meet your requirements at affordable prices.

    Eligibility – Who is the DHFL Pramerica U-Protect Plan for?

    To be eligible to purchase the DHFL Pramerica U-Protect Plan, individuals will have to meet the below mentioned eligibility criteria:

    Parameter Details
    Plan Type Term insurance plan
    Minimum Entry Age   18 years
    Maximum Entry Age 55 years
    Maximum Age at Maturity   65 years
    Policy Term 10 years to 30 years

    Sum Assured and Premium Range – What You Get and What It Costs

    While purchasing the DHFL Pramerica U-Protect Plan, the policyholder will be given an option to select the sum assured amount. For more information on the sum assured and the premium range available under the DHFL Pramerica U-Protect Plan, read on.

    Parameter Details
    Premium Payment Options Regular
    Premium Payment Mode Annual and half-yearly
    Policy Term 10 years to 30 years
    Minimum Sum Assured Rs.25,00,000
    Maximum Sum Insured There is no limit on the maximum sum assured. However, it is subject to underwriting.
    Minimum Annual Premium Rs.4,000

    Plan Coverage – What the DHFL Pramerica U-Protect Plan Covers

    Following are some of the benefits offered by the DHFL Pramerica U-Protect Plan:

    Maturity Benefit The DHFL Pramerica U-Protect Plan does not offer maturity benefits.
    Death Benefit In the event of death of the policyholder, guaranteed death benefit is given. This benefit is payable only when the insured person dies during the policy term and provided the policy is in active status. In case of the unfortunate death of the insured, the nominee will be eligible to receive a lump sum amount which was chosen at inception.

    Exclusions – What is Excluded from the DHFL Pramerica U-Protect Plan

    Suicide Exclusion: If the life insured commits suicide within one year from the date of issue of the insurance policy, the nominee is eligible to receive only 80% of the premiums paid as death benefit. The amount payable is excluding any underwriting charges.

    Other Key Features

    Following are some of the other key features of the DHFL Pramerica U-Protect Plan:

    Charges The charges applicable under the DHFL Pramerica U-Protect Planare:
    • Premium Allocation Charge
    • Fund Management Charge
    • Policy Administration Charge
    • Mortality Charge
    • Switching Charge
    • Partial Withdrawal Charge
    • Discontinuance Charge
    Grace Period The DHFL Pramerica U-Protect Plan has a grace period of 30 days for yearly and half-yearly premium payment modes.
    Revival / Renewal A lapsed policy can be reinstated for full benefits by reviving it within three years from the date of the first unpaid premium. The insured has to pay the total outstanding premiums with interest to reinstate the policy.
    Free Look Period The DHFL Pramerica U-Protect Plan has a free look period of 15 days within which the policyholder can cancel the policy and get the premiums paid refunded.
    Policy Loan Facility Under the DHFL Pramerica U-Protect Plan, policyholders are not eligible to avail a loan.
    Nomination Nomination facility is available under this plan as per Section 39 of the Insurance Act, 1938. This will be amended from time to time.
    Assignment Assignment facility is available under this plan as per Section 38 of the Insurance Act, 1938. This too shall be amended from time to time.

    Add-on/Riders under the DHFL Pramerica U-Protect Plan

     

    All policyholders having a the DHFL Pramerica U-Protect Plan will be allowed to attach riders for extra protection. They can purchase these add-ons and attach it to the base plan at a nominal fee. The riders that can be attached with the DHFL Pramerica U-Protect Plan are as follows:

    • DHFL PramericaTraditional Accidental Death Benefit Rider
    • DHFL PramericaTraditional Critical Illness Rider

    Tax Benefits – How You Can Save with the DHFL Pramerica U-Protect Plan

    Policyholders who have purchased the DHFL Pramerica U-Protect Plan will enjoy tax benefits under Section 10(10D) and Section 80C of the Income Tax Act, 1961.

    Other benefits of DHFL Pramerica U-Protect Plan

    The benefits of DHFL Pramerica U-Protect Plan are listed below:

    • The plans provide insurance coverage that offers flexibility as well as a choice of payment options, making it affordable for policyholders to make their premium payments on time.
    • The savings plans provide risk cover that is comprehensive, giving policyholders complete protection at a nominal cost.
    • The plans offer the policyholder financial security, ensuring his/her dependents will be taken care of in the event of the policyholder’s untimely demise.
    • Policyholders can avail tax benefits based on existing tax laws and provisions.

    Why You Should Choose the DHFL Pramerica U-Protect Plan?

    One of the foremost providers of insurance plans, DHFL Pramerica is known for its myriad offerings under the life insurance sector. As part of its diverse portfolio, DHFL Pramerica provides a number of plans ranging from life insurance policies to group plans. This insurance company is a joint venture between the second largest housing finance company in the private sector, Dewan Housing Finance Corporation Ltd. and Prudential International Insurance Holdings, Ltd. which is a financial services company that has its headquarters in the U.S.

    Quality products, robust customer service and latest technology are some of the reasons why DHFL Pramerica’s products are highly sought after. Individuals can avail plans and even pay for them online without having to visit the office directly. Individuals can also make use of calculators available on their website to calculate their premium or taxes. DHFL Pramerica has also been the recipient of a number of awards such as ‘Website of the Year’ in 2016 and ‘Skoch Technology for Growth Silver Award’, again in the year 2016.

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